Connecticut home sales and prices increase in February

Average statewide price of single-family house was $235,000

Single-family home sales in Connecticut rose 2.8% in February compared with February 2013, according to a new report from the Warren Group, publisher of The Commercial Record. This is the 10th consecutive month that home sales have increased in Connecticut.

There were 1,177 single-family homes sold in February this year vs. the 1,145 homes sold in February 2013.

“We see many signs of a healthy real estate market in Connecticut,” said Timothy M. Warren Jr., CEO of the Warren Group. “We are in the third year of recovery from the crash in real estate and financial markets. People are interested in real estate once again.”

The median price of single-family homes rose by 4.4% in February, selling at $235,000 compared with $225,000 in the same month last year. For the first two months of the year, prices of single family homes are up 1.8%.

Big sales gain for condos

Condominium sales posted big gains in February with a 17.2% increase over the same month last year. There were 354 recorded sales, up from 302 in February 2013.

The median price for a condo rose in February by 10.8% to $155,000 compared with $139,841 in February 2013. Overall, the median price of a condo is up by 1.9% so far this year.

About the Warren Group

The Warren Group, based in Boston, is the publisher of The Commercial Record and a series of association publications.

The company offers a range of real estate products and services for professionals and consumers searching for real estate and financial information. Learn more at www.thewarrengroup.com.